PSV Holdings to sell pump business to WPIL

The pump business, which operates mainly in South Africa and Zambia, includes APE Pumps, Mather + Platt, PSV Properties, PSV Services and PSV Zambia.

PSV Holdings will use the proceeds from the sale of its pump business to reduce its current levels of debt, to inject free cash flow back into its remaining subsidiaries and to pay a special dividend to shareholders.